March 24 Reuters Equity analysts are cutting their estimates for Asian companies39; earnings because of worries about slowing global growth and the absence of a boost from China39;s reopening from COVID.

According to Refinitiv IBES data, analysts have cut their forward 12month earnings39; estimates by 3.6 since February, more than the 1.9 increases released in January.

Some analysts expect China39;s recovery may not be enough to offset headwinds from weak global demand and supply constraints for exportreliant economies in the region.

We think the primary drivers of Asian earnings downgrades are concerns about recession or a steep consumption slowdown in the developed markets, leading to Asian exporters39; earnings estimates being revised down, said Manishi Raychaudhuri, AsiaPacific head of equity research at BNP Paribas.

An Asia fund manager survey from Bank of America in March revealed a dampening of earnings expectations as the net share of respondents expecting Asia39;s profit cycle to brighten up in the next 12 months dropped to 53 from 76 in February.

The survey also showed only 83 of investors still anticipate a rise in Asia Pacific exJapan equities in the next 12 months, down from 90 in February.

Earnings at South Korean and Malaysian companies were downgraded 4.9 and 4, respectively, while analysts cut earnings forecasts for Taiwanese companies by 3.3 in the past month.

Estimates for Chinese companies were cut by about 1 over the past month.

John Lau,…